Articles tagged 'tax'

Malawi Times sealed off 13 January 2017 BLANTYRE - The  Malawi Revenue Authority (MRA) has today sealed Times Group offices in Blantyre over tax arrears the media group owes government. Operations at Malawi's privately-owned media business, The Times Group, have been stopped after officials from the revenue authority, accompanied by...
Zim mulls new mining tax 10 January 2017 HARARE - Zimbabwe is planning to introduce a new mining tax this year aimed at boosting the country's depleting revenue streams, businessdaily has established. Finance minister Patrick Chinamasa said the country has engaged an unnamed tariff consultancy firm from Norway to come up with the new...
'Zimra car importers crackdown illegal' 31 July 2016 HARARE - Zimbabwe Revenue Authority (Zimra)'s recently-launched crackdown on car importers is illegal and exposes the tax collector to litigation, constitutional law experts said. Last week, Zimra announced that it was probing vehicles imported into Zimbabwe between January 2014 and June 2016 ...
Zimra cracks down on vehicle importers 27 July 2016 HARARE - The Zimbabwe Revenue Authority (Zimra) has launched a crackdown against car importers as it bids to stamp out corrupt practices and revenue leakages which have seen the authority suspending its top management. This also comes as the tax agency has been engulfed in a scandal of its own...
Zimra threatens court action 4 July 2016 HARARE - The Zimbabwe Revenue Authority (Zimra) has threatened to take legal action against tax defaulters in an effort boost its dwindling coffers. This comes as the national tax debt rose to 31 percent in the first quarter to $2,5 billion weighed by private entity debt as company closures an...
Noic gets tax 'exemption' 31 May 2016 HARARE - Finance minister Patrick Chinamasa has extended an olive branch to struggling National Oil Infrastructure Company of Zimbabwe (Noic) by temporarily exempting the state-owned enterprise from paying taxes. “The minister of Finance hereby declares the income accruing to Noic of the prepa...
Miners welcome tax review 25 May 2016 HARARE - The mining industry has commended government’s efforts to review the country’s mining tax system in line with international price fluctuations. This was after the Zimbabwe Revenue Authority (Zimra) last week said there was need to redesign the mining taxation regime in a bid to enhanc...
Mining tax regime unfair: Zimra 16 May 2016 HARARE - The Zimbabwe Revenue Authority (Zimra) says the country’s mining tax regime must be reviewed, in the wake of shrinking royalties over the past year from the sector. Zimra chairperson Willia Bonyongwe last week said the authority continued to hold discussions with government over the i...
Grim tax stats, time for urgent action 16 May 2016 HARARE - Last week, tax collector Zimbabwe Revenue Authority (Zimra) announced that tax arrears — owed mainly by privately-owned enterprises — had ballooned to $2,58 billion in the first quarter of 2016 from $1, 97 billion in the previous year. The authority's chairperson, Willia Bonyongwe, sa...
Tax arrears balloon: Zimra 13 May 2016 HARARE - Zimbabwe Revenue Authority (Zimra) says tax arrears have ballooned to $2,58 billion from $1,97 billion last year as privately-owned enterprises are increasingly failing to service their tax obligations due to the country’s continued economic meltdown. The national tax collector’s chai...
More Zimra officials nabbed 12 May 2016 HARARE - More Zimbabwe Revenue Authority (Zimra) officials accused of swindling their employer of various amounts of money following botched car import deals, appeared in court yesterday. Zimra director internal audit, Clive Charles Manjengwa, 52, director loss control, Charlton Chihuri, 40, a...
Zimra officials up for abuse of duty 10 May 2016 HARARE - Two Zimbabwe Revenue Authority (Zimra) employees based at Mutare and Beitbridge boarder posts, who cashed in on undervaluing imported motor vehicles and swindled their employer of $200 000 collectively, appeared in court yesterday. Moses Jemedze, 36, a revenue officer at Beitbridge Bo...
Zimra targets Lumumba 1 May 2016 HARARE - Under-fire Zanu PF activist Acie Lumumba has been given a seven-day ultimatum to voluntarily disclose any outstanding taxes or face a lifestyle audit. Lumumba, who has publicly clashed with Youth minister Patrick Zhuwao, was however not amused by the letter alleging that there is a po...
Zhuwao tosses tax loophole to Chinamasa 4 April 2016 HARARE - Indigenisation minister Patrick Zhuwao says his ministry has approached Treasury after it emerged that amendments to Zimbabwe's black empowerment laws would, in the long run, force empowered employees to sell off their shares to meet tax obligations. Speaking on the sidelines of a mee...
'High tax regime spooks SMEs' 3 March 2016 MUTARE - Zimbabwe's high tax regime is spooking the $7,4 billion informal sector from formalising their businesses, shutting out government from accessing up to 5,7 million small-to-medium scale enterprises (SME). This was said by consulting economist Gift Mugano on Tuesday at an SME formalisa...
Hwange tax arrears balloon to $69 million 24 February 2016 HARARE - Zimbabwe Stock Exchange listed coal miner Hwange Colliery Company Limited (HCCL)'s tax arrears have ballooned to $69,1 million following the addition of a $28,5 million tax liability. The company's acting chairman, Jemmester Chininga, on Monday said HCCL had to accommodate the additio...
Mimosa, govt in talks over platinum tax 29 January 2016 HARARE - Platinum miner Aquarius Platinum Limited (Aquarius) — a 50 percent shareholder in Zimbabwe’s second largest platinum producer, Mimosa — is in talks with government over the official gazetting of amendments to export tax on un-beneficiated platinum. In a statement accompanying the grou...
Zimra to realise $40m from tax amnesty 27 January 2016 HARARE - The Zimbabwe Revenue Authority (Zimra) Commissioner-General Gershem Pasi says the taxman assessed about $40 million tax claims during its tax amnesty last year. Speaking on the side-lines of the International Customs Day commemorations in the capital yesterday, Pasi said the authority...
“High Zim taxes scare away investors” 17 December 2015 HARARE - Zimbabwe's high taxes and a cocktail of statutory levies are pushing investors away from the country's energy sector, Parliament has warned. Parliamentary portfolio committee on Energy chairperson Nomsa Mhlanga on Tuesday told the National Assembly that mandatory levies being imposed ...
Scrap tax incentives, Zim urged 10 December 2015 HARARE - Lobby group African Forum and Network on Debt Development (Afrodad) says government must scrap a coterie of tax incentives on investors to boost its depleting coffers. In its draft research report on the cost of investment incentives in Zimbabwe released yesterday, Afrodad said the ex...
Zim moves to curb tax leakages 8 December 2015 HARARE - Finance minister Patrick Chinamasa says the country is now at an advanced stage of launching a pilot programme meant to explore avenues of curbing tax leakages. Chinamasa told delegates at the launch of the African Capacity Building Foundation report in Harare yesterday that the move ...
UN urges tax reforms 17 November 2015 HARARE - Zimbabwe must introduce tax reforms as a way of promoting investment, enhancing inclusive growth and poverty reduction, the United Nations has said. The United Nations resident coordinator, Bishow Parajuli, last week said one of the concerns the international organisation has on Zimba...
Industry calls for tax incentives 14 October 2015 HARARE - Zimbabwe must introduce tax breaks to emerging companies as a way of boosting the country’s economic growth, a leading industrial body has said. Zimbabwe National Chamber of Commerce (ZNCC) tax expert Tendai Mavhima told delegates attending a pre-budget seminar yesterday hosted by the...
Has Zhuwao lost his marbles? 6 October 2015 EDITOR — There is something seriously wrong in Zimbabwe today. Companies are already struggling owing to a difficult operating environment. While some in Cabinet are trying to find ways of attracting investment, one — Indigenisation minister Patrick Zhuwao — is actually proposing to impose ...
Broke govt raids churches 30 September 2015 HARARE - A surprise raid on Walter Magaya's Prophetic Healing and Deliverance (PHD) church by the Zimbabwe Revenue Authority (Zimra) has accentuated fears that the skint government has started a blitz on churches to boost its finances. This has, however, been greeted with shock by the clergy, ...